Rape was able to strengthen further yesterday. The November date gains EUR 4.50/t on the Euronext/Matif. The price development in Paris was only slowed down by the significantly better weather forecast for the Canadian harvest. Canola rose by about the same amount and closed yesterday for November at Can$853.90/t (EUR 648.96/t). Rapeseed and canola were able to increase, especially in the slipstream of the significant gains in soybean and soybean oil. Palm oil was also traded higher again yesterday. On the one hand, the poorer status assessments of the existing areas provided a boost at the CBoT in the soy complex. These were released by the USDA on Monday after the close of trading. Average temperatures have been reported for the next two weeks, but very little precipitation is expected. Additional support came from the export business. The USDA yesterday reported an export sale of 130,000 tons of soybeans to China. For Friday's WASDE, market participants expect cuts in US soybean production compared to July.
Source
VR AgrarBeratung AG
